Financial globalization, economic growth, and the crisis of 2007-09 / / William R. Cline

• Autore: Cline William R
• Pubblicazione: Washington, D.C., : Peterson Institute for International Economics, c2010
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (394 p.)
• Disciplina: 332/.042
• Soggetto topico: International finance; Economic development; Financial crises
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Cover -- Contents -- Preface -- Acknowledgments -- Chapter 1 Overview -- Research Context -- Key Analytical Issues -- Theoretical Expectations -- Empirical Literature -- Synthesis Estimates -- Quantifying Crisis Effects -- Quantifying Debt versus Equity Effects -- Implications of the 2007-09 Crisis -- Conclusion -- Appendix 1A Covered Interest Parity as a Measure of Financial Openness -- Appendix 1B Analogy to Gains from Trade -- Appendix 1C Tests for Compositional Differences in Growth Impact on Financial Openness -- Chapter 2 A Critical Survey of Literature -- Cross-Country Growth Regressions -- Theoretical and Calibrated Studies -- Diversification Gains and Consumption Smoothing -- Summary Surveys -- Conclusion -- Appendix 2A Weighting Cross-Country Regression Results in Meta-Analysis -- Dichotomous Vote Counting, the Null Hypothesis, and Critical Range -- Measured Averages Imputing Insignificant Estimates at Zero -- Measured Averages Excluding Insignificant Estimates -- Meta-Analysis Weighting Averages by the Inverse of Variance -- An Approach for Multivariate Meta-Analysis of a Key Policy Variable -- An Example: Meta-Weighting Individual Results of an IMF Study -- Conclusion -- Appendix 2B Gourinchas-Jeanne Model of Gains from Financial Integration -- Appendix 2C Gemini: A Simple Model of International Risk Sharing -- Appendix 2D Potential Circularity in the Knack-Keefer Government Reputation Variable -- Appendix 2E Current Account Deficits and Growth -- Chapter 3 The Impact of Financial Globalization on Growth: Country-Specific Estimates -- The Synthesis Approach -- Trends in Financial Openness -- Calibration -- Results for General Financial Openness -- Weighting Nonsignificant Model Estimates -- Results for Direct Investment Openness -- Comparison with Theoretical Expectations -- Conclusion. ; Appendix 3A Normalizing Model Coefficients for Synthesis Analysis -- General Financial-Openness Models -- Direct Investment Openness Models -- Appendix 3B Temporary versus Permanent Growth Acceleration in the Henry Model -- Appendix 3C Degree of Correlation among Alternative Measures of Financial Openness -- Chapter 4 The Financial Crisis of 2007-09 and Financial Globalization -- Evolution -- Causes -- Status by Late 2009 -- Implications for Financial Openness in Emerging-Market Economies -- Conclusion -- Appendix 4A Key Events and Policy Responses -- Phase One: July 2007 to February 2008 -- Phase Two: March 2008 to August 2008 -- Phase 3: September 2008 to March 2009 -- Phase 4: April 2009 and After -- Appendix 4B Causes of the Crisis -- The Housing Bubble -- Leverage -- Financial Innovation -- Regulatory Laxity and Gaps? -- Agency Problems and Underpricing Risk -- Misleading Risk Models? -- Monetary Policy -- Global Savings Glut -- Appendix 4C Contemporary Policy Diagnoses from September 2008 to February 2009 -- Spending 700 Billion Wisely (September 22, 2008) -- Mark to What Market? (October 3, 2008) -- Bank Consolidation: More Stability Now for Oligopoly Later? (October 7, 2008) -- Sizing Up the Hole in the Banks: Nationalization Is Not Inevitable (February 6, 2009) -- Appendix 4D Economics of the Geithner Plan -- Problems with Critiques of the Private-Public Investment Program -- Recalculating the Sachs Private-Public Investment Program Overpayment Estimate -- Overview -- Appendix 4E Financing Gaps, Reserves, and Official Finance in the Global Financial Crisis -- References -- Index.
• Titolo autorizzato: Financial globalization, economic growth, and the crisis of 2007-09
• ISBN: 1-282-88300-3; 9786612883002; 0-88132-555-4
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910817043703321
• Lo trovi qui: Univ. Federico II